Undo a Bank Reconciliation

Rentec Direct property management software allows you to undo previous reconciliations and make any necessary corrections or adjustments.

Important Note: Before undoing a reconciliation, you may want to review the option with your accountant.

How to Undo a Bank Reconciliation

In your Rentec Direct account: 

1. Click on Banking
2. Right-click on the account and choose Notes & History 
3. Click the Undo link next to the Reconciliation report
4. Review the caution message
5. Click on View Reconciliation Report to view and download 
6. Press Confirm Undo when you're ready

Notes:

After a reconciliation has been reversed, the ledger  Notes & History will automatically be updated to reflect that action. Those transactions will revert to being unreconciled and will be listed again in the Reconciliation tool. 

The Undo option is available for all reconciliations processed on or after December 14, 2020. If the reconciliation occurred before that date, use the instructions in the next section to undo individual transactions. 

Un-reconcile One or More Individual Transactions

If you inadvertently marked a transaction as reconciled and wish to reverse it, or the reconciliation occurred before December 14, 2020, each line item will need to be edited individually. 

Pro Tip: We recommend you first pull the reconciliation report to locate which transaction needs to be edited.

Review the Report

In your Rentec Direct account:

1. Click on Banking
2. Right-click on the account and select Notes & History 
3. Click on the report icon link to download the report
4. Review the report to identify transactions that need to be edited 

Edit Transactions

In your Rentec Direct account: 

1. Click on Banking
2. Click on the Balance to enter the ledger

3. Use the search filter to find your transactions, which will be marked with a bold "R" in the far right column, and edit each transaction in question using the pencil/paper icon.

   

   
   

4. Adjust the transaction from Reconciled to either Cleared or Uncleared

   

   
   
5. Click on Save Changes

System Advice: We recommend adding a new note to the account Notes & History to ensure you have a clear trail of events. Once you have unreconciled the transaction, that transaction will be available for a new reconciliation.

TIPs

When financial reports are created:

• The software automatically saves a reconciliation report in your Notes & History
• You will have the option to download the report

Learn about Full Accounting, including Assets, Liabilities, and Equity Accounting with Rentec Direct.